"bnp-paribas"

Rising crude oil prices, inflation and higher bond yields globally have narrowed the Reserve Bank of India’s room to hold rates unchanged, BNP Paribas said. India’s macro-outlook has weakened as Brent crude rose above $100 per barrel amid global tightening

Brent crude futures, the global oil benchmark, advanced 0.81 per cent to USD 82.88 per barrel.

Orders dried up as a result of this, they said, adding that this created a heightened uncertainty in the forex market, causing excess volatility in the Indian rupee, which was avoidable.

At the interbank forex market, the domestic unit opened at 73.52 against the US dollar and witnessed an intra-day high of 73.47 and a low of 73.61

The industry raised Rs 7,800 crore through the SIP route last month, compared with Rs 7,788 crore garnered in September, data from Amfi showed

Besides, positive developments on COVID-19 vaccine front, improved domestic macro-economic data and weakness of the American currency against key rivals also supported the rupee.